Proactiveinvestors USA & Canada Lexagene Holdings Inc https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Lexagene Holdings Inc RSS feed en Wed, 17 Jul 2019 12:56:48 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - LexaGene files additional US patents to protect proprietary LX2 genetic analyzer technology ]]> https://ca.proactiveinvestors.com/companies/news/224073/lexagene-files-additional-us-patents-to-protect-proprietary-lx2-genetic-analyzer-technology-224073.html LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) announced Wednesday that it has filed additional patents to protect its proprietary LX2 genetic analyzer technology.

The company said the three US patent applications seek to provide continuing and additional coverage of its LX2 technology: the unique sample prep DNA extraction method, the data and image processing algorithms, and the fast DNA-analysis function of the instrument and system.

LexaGene, based in Beverly, Massachusetts, is pioneering the first fully automated pathogen detection platform for use in diagnostics and sample analysis via its LX Analyzer.

READ: LexaGene’s LX Analyzer exceeds expectations during testing at major veterinary hospital

The key feature is the open access nature of the genetic analyzer that allows end users to customize the instrument to target any pathogen of interest. The instrument is able to process multiple samples at a time, returning results within around one hour.

“Protecting our technology is critical for building value in the company,” said CEO Dr Jack Regan.

“These patent applications further defend our LX technology as being the first sample-to-answer microfluidic genetic analyzer that utilizes disposable cartridges and bulk fluid reservoirs for rapid and cost-efficient PCR (polymerase chain reaction) that can screen for many genetic targets at once.”

LexaGene's stock recently traded up 2.9% to C$0.70 a share in Toronto and rose 1.9% to US$0.54 in New York.

-- Updates stock price --

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

]]>
Wed, 17 Jul 2019 08:30:00 -0400 https://ca.proactiveinvestors.com/companies/news/224073/lexagene-files-additional-us-patents-to-protect-proprietary-lx2-genetic-analyzer-technology-224073.html
<![CDATA[News - LexaGene's CEO takes us through the path to commericalization for unique pathogen detection system ]]> https://ca.proactiveinvestors.com/companies/news/223694/lexagene-s-ceo-takes-us-through-the-path-to-commericalization-for-unique-pathogen-detection-system-223694.html LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) was founded in late 2016.  At the time, CEO Jack Regan had a vision and two licensed, critical patents from Lawrence Livermore National Laboratory. In the last two and a half years, Regan and his team raised US$13.5 million and built a unique company anchored by experienced staff.  Today, LexaGene’s technology is enabling faster, easier pathogen detection. Regan is confident that commercialization is right around the corner. In this interview, the CEO tells Proactive why he founded the company, how it is targeting a multimillion-dollar underserved market and where he sees LexaGene heading in the future.

Can you give us give us some insight into to the origin of LexaGene?

I studied influenza during my doctorate, which is arguably one of the more deadly pathogens of all time. After I graduated I went to work at Lawrence Livermore National Laboratory, where I had to go through such a rigorous security clearance program that I thought the US government was going to ask me to develop a bioweapon. Fortunately, instead they asked me to lead a team developing advanced technology to provide better defense against a biological attack.  

The assembled team developed an automated instrument, which was funded by the Department of Homeland Security (DHS), to rapidly detect agents like smallpox, anthrax, plague - any other pathogens that can be easily weaponized.  The instrument was designed to be ‘autonomous’, which means it can run around the clock, screening the air for threatening bacteria released from a dirty-bomb without any direct interaction from scientists and engineers.  We called the instrument, the Autonomous Pathogen Detection System (APDS).  In autonomous mode, it could collect and analyze the air found in transit stations and other high-risk areas for a week, and it would transmit a report back to headquarters every 3 hours on the findings.  After we completed the validation studies, the instrument was adopted by the DHS to be part of their BioWatch program.

Despite the successes of this technology, I felt that it could be improved, so I set out to design a new instrument and came up with a design that would improve the instrument’s sensitivity, speed, throughput, and multiplexing capability.  These novel improvements were capture in a patent application that has since by granted by the US Patent and Trademark Office (and subsequently licensed by LexaGene).

After the patents were issued, I met Daryl Rebeck, who helped me execute a reverse takeover agreement of a company listed on the TSX Venture Exchange. Soon afterwards, Daryl joined me at LexaGene to help build this company.  Bit by bit we started accumulating capital, closing five financings totaling US$13.5 million.  We’ve grown the company to 21 employees and have drastically advanced the technology as we are now beta testing the technology at prospective customer sites.

Why did you decide to focus on veterinary diagnostics and food safety testing?

We wanted to target underserved markets. Our primary market is veterinary diagnostics, followed closely by food safety. The companion animal testing market is regulated by the US Department of Agriculture (USDA), where the requirements are more easily met than requirements from the Food and Drug Adminstration (FDA) for human clinical diagnostics.    The lower regulatory hurdles in this market will allow us to more quickly enter the market and start generating revenue. Eventually we'd like to go to human clinical diagnostics but for right now we're concentrating on the veterinary market.

We are also developing tests for food safety testing.  Our technology is unique in that our microfluidic instrument uses such small amounts of test reagents, and our plastic consumable is so low cost to manufacture that we can provide very high-quality testing for a low price.  This means we can service the price-sensitive food testing market, where cost per sample is low but throughput is very high.  Other automated molecular testing technologies have costs that are up to 15 times greater than ours, making them prohibitively expensive for food safety testing.  As a result, these technologies are only used in human clinical diagnostics where high prices can be charged.

What does ‘open-access’ mean, and why is it important?

In human clinical diagnostics all current suppliers of easy-to-use automated tests for pathogens have instruments that are closed-access, meaning the manufacturer has a very expensive cartridge that is embedded with all the reagents required to run the tests.  Although our instrument is not yet FDA cleared, we are developing a novel technology that is open-access, which will allow end users to configure the instrument to detect any genetic sequence of interest. This is important because pathogens evolve and having the ability to rapidly respond to a new threat potential could save lives.

What does the path to commercialization look like?

We are currently beta testing our technology with prospective customers to make sure the technology is meeting their needs. We will collect feedback from the beta testers and in the fall, we will lock down the design of our commercial system. We then will start the manufacturing process, which will take a couple of months due to some custom parts that have long lead times.  Our expectation is to be commercial by the end of Q1 2020.

What is your longer term vision for LexaGene?

I got into diagnostics to make an impact and affect people's lives. I decided to start this company because I felt there was a genuine need for the technology, and that I was the best person to bring it to market. With that in mind, my goal for the technology is to have the biggest impact possible. The company’s mission statement is ‘Provide technology that improves health outcomes and prevents illness from spreading.’ I look forward to the day when LexaGene's product helps save a life.  Now that we are in beta testing, this day may come very quickly. When a life-saving test is run that is attributed to LexaGene’s technology I’ll have a tremendous about of gratification.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

 

]]>
Wed, 10 Jul 2019 12:02:00 -0400 https://ca.proactiveinvestors.com/companies/news/223694/lexagene-s-ceo-takes-us-through-the-path-to-commericalization-for-unique-pathogen-detection-system-223694.html
<![CDATA[News - LexaGene’s LX Analyzer exceeds expectations during testing at major veterinary hospital ]]> https://ca.proactiveinvestors.com/companies/news/223688/lexagenes-lx-analyzer-exceeds-expectations-during-testing-at-major-veterinary-hospital-223688.html LexaGene Holdings Inc (CVE:LXG)(OTCMKTS:LXXGF) announced Wednesday that the first beta prototype of the company’s LX Analyzer exceed expectations during testing at Massachusetts Veterinary Referral Hospital.

The test results were found to be 98% concordant with reference laboratory-generated data. On average, four samples were processed per day, with infections caused by E. Coli, Proteus, Staphylococcus, according to a statement.

During the study at Mess Vet, which is among 24 hospitals owned by Ethos Veterinary Health, the test results correctly confirmed that 56% of the animals tested did not need antibiotics. Ethos is a US network of veterinary hospitals providing specialty and emergency care for pets.

Investors cheered the news, sending the stock up 17.8% to C$0.66 a share in Toronto and up 20% to $0.51 a share on the OTC Market.

READ: LexaGene hits major milestone, places its pathogen-detecting technology in major Massachusetts veterinary hospital

Veterinarians at Mass Vet used LexaGene’s genetic analyzer to determine the cause of an infection and whether antibiotic resistance factors were present that could influence therapy decisions. 

They focused on processing canine and feline urine samples, but were given the opportunity to load other sample types onto the instrument such as swabs from surgical incisions, cervical swellings, and neck and chest wounds.

“LexaGene’s analyzer is really going to be a game changer,” said Dr Sam Stewart, commercialization scientist fellow at Ethos Veterinary Health. “Our team’s enthusiasm for this technology has been so overwhelming, we’ve asked LexaGene to allow some of our other hospitals to beta test the technology.”

No easy-to-use instruments for vets

LexaGene CEO Dr Jack Regan noted that there are no easy-to-use instruments for vets to rapidly and accurately detect infectious diseases inside the hospital.

“This is a problem, as there are many conditions and diseases that may or may not be caused by an infectious organism,” he said. “For example, the symptom of incontinence in a dog could be due to a urinary tract infection, bladder cancer, kidney or bladder stones, diabetes, Cushing’s disease, prostate gland disease, and relative estrogen withdrawal.”

LexaGene, based in Beverly, Massachusetts, is pioneering the first fully automated pathogen detection platform for use in diagnostics and sample analysis.

The key feature is the open access nature of the instrument that allows end users to customize the instrument to target any pathogen of interest. The instrument is able to process multiple samples at a time, returning results within around one hour.

-- updates stock prices --

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

]]>
Wed, 10 Jul 2019 09:31:00 -0400 https://ca.proactiveinvestors.com/companies/news/223688/lexagenes-lx-analyzer-exceeds-expectations-during-testing-at-major-veterinary-hospital-223688.html
<![CDATA[Media files - LexaGene Holdings reports favorable beta test results on its infectious disease diagnostic in animals ]]> https://ca.proactiveinvestors.com/companies/stocktube/14041/lexagene-holdings-reports-favorable-beta-test-results-on-its-infectious-disease-diagnostic-in-animals-14041.html Wed, 10 Jul 2019 09:01:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/14041/lexagene-holdings-reports-favorable-beta-test-results-on-its-infectious-disease-diagnostic-in-animals-14041.html <![CDATA[News - LexaGene hits major milestone, places its pathogen-detecting technology in major Massachusetts veterinary hospital ]]> https://ca.proactiveinvestors.com/companies/news/221561/lexagene-hits-major-milestone-places-its-pathogen-detecting-technology-in-major-massachusetts-veterinary-hospital-221561.html LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) announced Wednesday that a major veterinary hospital in Massachusetts will house the first beta prototype of the company’s LX Analyzer.

The beta prototype identifies the presence of bacteria causing urinary tract infections in animals and screens samples for common antibiotic resistance factors so that veterinarians have the correct information to select the best course of treatment.

LexaGene's shares jumped 9.5% at C$0.69 in Toronto on Wednesday morning and 15.3% at US$0.52 on OTC markets.

READ: LexaGene Holdings completes development of antibiotic resistance marker panel

Massachusetts-based LexaGene said the prototype had been placed at Massachusetts Veterinary Referral Hospital, which is among 24 hospitals owned by Ethos Veterinary Health, a US network of veterinary hospitals providing specialty and emergency care for pets.

“This placement marks a very significant milestone for the company and for the diagnostics industry,” said Dr Jack Regan, LexaGene’s founder and CEO.

According to Regan, the company selected Mass Vet to be its first site due to their reputation for being pioneers and thought leaders in veterinary medicine. “The doctors at Mass Vet are eager to test our cutting-edge technology to provide the best possible treatment for their patients,” he said.

LexaGene said it will continue placing devices at various other sites throughout the US as part of an ongoing beta test program.

“This will enable potential customers to experience the technology in their own facility so that they can compare LX-generated results to their standard testing methods,” Regan said in a statement. “We are confident these users will quickly appreciate the benefits of our technology and this will help seed future sales.”

Key features

LexaGene is pioneering the first fully automated pathogen detection platform for use in diagnostics and sample analysis.

The key feature is the open access nature of the instrument that allows end users to customize the instrument to target any pathogen of interest. The instrument is able to process multiple samples at a time, returning results within around one hour.

In addition to veterinary health, LexaGene is initially targeting the food safety industry to detect potential crop-killing pathogens.

--Updates share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

]]>
Wed, 05 Jun 2019 08:41:00 -0400 https://ca.proactiveinvestors.com/companies/news/221561/lexagene-hits-major-milestone-places-its-pathogen-detecting-technology-in-major-massachusetts-veterinary-hospital-221561.html
<![CDATA[Media files - LexaGene moves forward with its faster, easier pathogen detection ]]> https://ca.proactiveinvestors.com/companies/stocktube/13589/lexagene-moves-forward-with-its-faster-easier-pathogen-detection-13589.html Wed, 05 Jun 2019 08:32:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13589/lexagene-moves-forward-with-its-faster-easier-pathogen-detection-13589.html <![CDATA[Media files - LexaGene Holdings completes development of Antibiotic Resistance Panel ]]> https://ca.proactiveinvestors.com/companies/stocktube/13365/lexagene-holdings-completes-development-of-antibiotic-resistance-panel-13365.html Wed, 15 May 2019 09:38:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13365/lexagene-holdings-completes-development-of-antibiotic-resistance-panel-13365.html <![CDATA[News - LexaGene Holdings completes development of antibiotic resistance marker panel ]]> https://ca.proactiveinvestors.com/companies/news/220329/lexagene-holdings-completes-development-of-antibiotic-resistance-marker-panel-220329.html LexaGene Holdings Inc. (CVE:LXG) (OTCMKTS:LXXGF) announced Wednesday it has completed development of an antibiotic resistance marker panel.

The biotechnology company said the panel is comprised of 12 assays targeting antibiotic resistance genes commonly found in bacterial pathogens.

“This further expands the company’s capabilities in providing a complete testing solution for veterinarians to rapidly determine the cause of an infection and whether any antibiotic resistance factors are present,” LexaGene said in a statement. “This information can then be used to prescribe the most effective therapy.”

READ: LexaGene shares pop after technology successfully detects threatening agricultural mold

LexaGene, based in Beverly, Massachusetts, is pioneering the first fully automated pathogen detection platform for use in diagnostics and sample analysis. The platform is open-access, meaning that end users can target any pathogen of interest by loading their own real-time assays onto the instrument for customized detection.

LexaGene’s key markets include veterinary diagnostics and food safety.

“The ability of our technology to quickly detect both the causative pathogen and many antibiotic resistance factors will transform how veterinarians process clinical samples and make therapeutic decisions,” said CEO Jack Regan.

Addressing the antibiotic resistance problem

The company said antibiotic resistance is one of the most challenging problems faced by both veterinarians and medical professionals, and that recent studies have shown that companion animals can transmit their infection to humans.

“New technologies are required that can quickly determine whether antibiotic resistance factors are present in detected bacteria, helping to reduce the amount of antibiotics that are unnecessarily prescribed or poorly matched for the resistance profile of the causative pathogen,” LexaGene noted.

To address this problem, LexaGene said it is nearing completion of a beta version of its fully automated easy-to-use analyzer that will identify the most common pathogens and screen for the presence of several antibiotic resistance factors within an hour of sample collection.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

]]>
Wed, 15 May 2019 09:21:00 -0400 https://ca.proactiveinvestors.com/companies/news/220329/lexagene-holdings-completes-development-of-antibiotic-resistance-marker-panel-220329.html
<![CDATA[News - LexaGene is enabling faster, easier pathogen detection ]]> https://ca.proactiveinvestors.com/companies/news/219735/lexagene-is-enabling-faster-easier-pathogen-detection-219735.html LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) is a biotechnology company that is pioneering the first fully-automated pathogen detection platform for use in diagnostics and sample analysis.

The key feature is the open access nature of the instrument that allows end users to customize the instrument to target any pathogen of interest. The process is as simple as collecting a sample, loading it into the instrument using a preparation cartridge and pressing “go.” The instrument is able to process multiple samples at a time, returning results within around one hour.

Currently, the main markets being targeted by LexaGene are the vast and underserved veterinary health and food safety industries, but the customizable nature of the technology means that it is applicable to any type of diagnostic industry.

“We’re positioning our product as one that can be used across many industries,” said CEO Dr Jack Regan in an interview with Proactive. “We can do this because we define our product as open access, meaning the end user has the ability to customize the genetic test that our instrument performs.”

CEO Regan developed LexaGene’s patented microfluidic system. Regan was a lead scientist in developing another instrument designed for biowarfare surveillance used by the US Department of Homeland Security, and a device for detecting respiratory pathogens from nasal swab samples.

Currently, most pathogen detection is done through cultures, which can be time-consuming and require special conditions in order to deliver accurate results. Take food safety as an example: if a pathogen is destroying crops, a difference of hours or days for results can represent millions of dollars in lost revenue.

Armed with promising study results and proven technology, LexaGene is getting ready to launch the LX2 Genetic Analyzer to underserved markets valued at an estimated US$40 billion.

Inflection points

LexaGene’s LX2 Beta prototype is almost ready for commercialization, according to CEO Regan, moving them one step closer to sales.

The LX2 Analyzer is designed for non-technical workers to use easily, whereas most instruments currently on the market require a skilled molecular biologist to operate the system. The flow-through instrument processes large sample volumes to increase the chance of detecting very rare pathogens. It also comes at a low cost per test, as the instrument uses reagents stored in bulk reservoirs instead of cartridges with pre-embedded reagents.

“The open access aspect of the analyzer is extremely valuable because we’re providing hardware and controls, but the customer has the choice to customize the test to look for what they want,” said Regan in an interview.

“We’re doing this because we can’t do everything at once, but we want people to be able to buy the tech and be enabled.”

In February 2019, a clinical study was conducted using LX Analyzer technology where over 100 canine urine tests were sampled. The LX Analyzer detected 100% of the pathogens present in samples and even found antibiotic resistance factors in some examples. The results are 97.5% comparable to a reference lab, only automated and faster.

When it comes to revenue projections, the company plans on an additive recurring revenue stream with an expanding installation base. The recurring revenue stream comes from the disposable sample preparation cartridge that offer around 97% gross margin per sample tested.

LexaGene is pricing each instrument at around US$50,000. Total revenue over three years is projected to be over US$240 million.

Investors looking for an exit strategy can rest assured with the knowledge that similar companies such as Handylab, Biofiore and Iquum were all acquired for hundreds of millions of dollars by industry heavyweights like Roche.

Outlook

The next frontier for the LX2 analyzer will be human pathogen detection. Previously, LexaGene reported successful detection of human foodborne pathogens such as E. coli and staphylococcus. Now the company is looking to expand its genotyping capabilities to determine how the human body will respond to certain drugs.

One such application is to understand how individuals react to cannabis-based products, a new area for LexaGene. A person’s unique genetic makeup determines how well they react to certain drugs, otherwise known as genotyping. The company can take a cheek swab and analyze it for different variants that will help to understand the proper dose of cannabis or other pharmaceuticals necessary for treatment.  

“The ability and ease with which our technology can be used in markets aside from veterinary diagnostics and food safety is often underappreciated,” said Regan in a recent company statement.  “Many of these markets have no regulatory hurdles, which in time will allow us to start selling our technology into a diverse set of laboratories.

“When we begin selling our commercial units, open-access sales will complement our veterinary diagnostics and food safety revenues nicely.”

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

]]>
Mon, 06 May 2019 16:09:00 -0400 https://ca.proactiveinvestors.com/companies/news/219735/lexagene-is-enabling-faster-easier-pathogen-detection-219735.html
<![CDATA[Media files - LexaGene Holdings sees path to sales through multiple uses of technology ]]> https://ca.proactiveinvestors.com/companies/stocktube/13177/lexagene-holdings-sees-path-to-sales-through-multiple-uses-of-technology-13177.html Wed, 01 May 2019 15:08:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13177/lexagene-holdings-sees-path-to-sales-through-multiple-uses-of-technology-13177.html <![CDATA[News - LexaGene shares pop after technology successfully detects threatening agricultural mold ]]> https://ca.proactiveinvestors.com/companies/news/219405/lexagene-shares-pop-after-technology-successfully-detects-threatening-agricultural-mold-219405.html LexaGene Holdings Inc (CVE:LXG) (OTCMKTS:LXXGF) saw its shares rocket on Tuesday after announcing that its in-house technology successfully detected a common agricultural fungus.

Shares of LexaGene powered 12.7% higher in Toronto to C$0.62, and 10.2% higher at US$0.45 south of the border.

The biotechnology company’s LX analyzer picked up the presence of gray mold, a common agricultural pathogen in over 200 plant species such as strawberries, grapes and cannabis.

READ: Braingrid launches data intelligence program for agriculture and cannabis growers

During the study, scientists used the LX analyzer technology to process vegetable washes from strawberries that either appeared healthy or showed signs of premature decay. In the latter group, the analyzer generated conclusive results that pointed to the presence of gray mold and none in the healthy group.

Estimates of gray mold damage to crops range between losses of $10 billion up to $100 billion, according to data from LexaGene.

Dr. Jack Regan, LexaGene’s CEO and founder, said in a statement that LexaGene’s technology can detect pathogens in both human and plant species.

“Previously, we reported successful detection of human foodborne pathogens such as E. coli and Staphylococcus, and here we are reporting that the LX analyzer can also detect plant pathogens,” he said in a statement.

“Data from this fungal study further indicate that the LX technology will offer best-in-class sensitivity for detecting rare pathogens. Exceptional sensitivity is important, as early detection will allow farmers to potentially avoid millions of dollars in crop losses due to (gray mold) and other plant pathogens."

Pathogen detection platform

Massachusetts-based LexaGene is developing the very first fully automated pathogen detection platform that is open-access, meaning that end users can target any pathogen of interest by loading their own real-time assays onto the instrument for customized detection.

The company expects to sell its technology in the veterinary diagnostics and food safety markets, among others.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

]]>
Tue, 30 Apr 2019 13:19:00 -0400 https://ca.proactiveinvestors.com/companies/news/219405/lexagene-shares-pop-after-technology-successfully-detects-threatening-agricultural-mold-219405.html
<![CDATA[Media files - Lexagene set to go to market with their Pathogen Detection System ]]> https://ca.proactiveinvestors.com/companies/stocktube/10333/lexagene-set-to-go-to-market-with-their-pathogen-detection-system-10333.html Tue, 04 Sep 2018 16:13:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/10333/lexagene-set-to-go-to-market-with-their-pathogen-detection-system-10333.html <![CDATA[Media files - LexaGene Holdings tackles rapid pathogen detection ]]> https://ca.proactiveinvestors.com/companies/stocktube/9512/lexagene-holdings-tackles-rapid-pathogen-detection-9512.html Fri, 08 Jun 2018 08:27:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9512/lexagene-holdings-tackles-rapid-pathogen-detection-9512.html